It doesn’t really surprise me all that much that more and more remodeling companies are getting phone calls about remodeling more than builders are getting phone calls on building new homes. The challenge? Staying busy due to the economy because no one is for sure where the money is coming from tomorrow. Many are not cautious about spending money because they feel it’s too much, but because if they lose their job where will the next dollar come from? Joblessness is still the real issue behind what is happening, and if that doesn’t change the market will remain on the downturn.
Remodelers Busy Due to Tax Returns
Remodelers report that they are busy right now which is great, but they just feel that people are slow to commit. Obtaining loans to build new is one thing, while spending money on repairs or remodeling is another. Many also believe that what spurred the market for remodeling is income tax returns so once that dries up, they are feeling that the need for repairs will too. Many are seeking to rent once they have been foreclosed upon, simply because it’s not just about paying less if they can, but not having to worry about home repairs and the other expense of upkeep of landscaping.
-Mayer Dallal
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